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Brandon's Release of Oil from SPR has lowered gas prices, but...
Posted on 4/7/22 at 7:40 pm
Posted on 4/7/22 at 7:40 pm
Never in the history of this Republic has a president made such a blatant political move which jeopardizes national security to such extent. LGB!
Posted on 4/7/22 at 7:41 pm to blueridgeTiger
Gas has gone up in Cali so i dont believe this
Posted on 4/7/22 at 7:44 pm to blueridgeTiger
Not sure where you are but not here
Posted on 4/7/22 at 7:44 pm to blueridgeTiger
How much have they lowered?? I haven’t filled up in almost 2 weeks and I’m too mortified to look at the prices as I drive past a station, so I honestly don’t know…
Posted on 4/7/22 at 7:44 pm to Jjdoc
I just spent 5.59, down 3 cents. Thanks Biden.
Posted on 4/7/22 at 7:46 pm to Roberteaux
Between 3.85 and 4 bucks in western tennessee.
Posted on 4/7/22 at 7:53 pm to blueridgeTiger
Wait until the effects of the west decoupling from the east flow through consumer prices for the next several years
Posted on 4/7/22 at 7:55 pm to blueridgeTiger
Down 40 cents a gallon on regular in Tuscaloosa over the last month
Posted on 4/7/22 at 8:12 pm to blueridgeTiger
$3.57 today west of Fort Worth. Had been over $4 last month.
Posted on 4/7/22 at 8:20 pm to sledgehammer
$3.71 in shreveport. "the new normal"
Posted on 4/7/22 at 8:24 pm to blueridgeTiger
Gas has dropped anywhere from 8¢ to 10¢ in my neck of the woods. My vote costs more than that, potato.
Posted on 4/7/22 at 8:25 pm to blueridgeTiger
The strategic reserve only holds enough oil to “run” America for 15 days or so. He released oil we paid for at 40$ a barrel to replace at 100$ plus a barrel. Why not just pump domestic oil at 100$ a barrel, which will create jobs and lower prices for slinger period of time.
Posted on 4/7/22 at 8:29 pm to blueridgeTiger
Did it? Oil traders panicked over a month ago with sanctions on Russia. Flow of Russian crude has not slowed
Posted on 4/7/22 at 8:30 pm to blueridgeTiger
quote:
Never in the history of this Republic has a president made such a blatant political move which jeopardizes national security to such extent.
It does not jeopardize national security. The US could pivot on a dime and produce far more oil than we can refine and use. This was an obvious great move that Trump would have been the first to do; it mitigates a painful phenomenon, and we get to sell high and buy low.
Posted on 4/7/22 at 8:34 pm to blueridgeTiger
Went from $4.79 to $4.59 here and hasn't moved since. Was $3.49 in late-February.
Posted on 4/7/22 at 8:40 pm to LSURoss
quote:
$3.71 in shreveport
$3.60 at SAMS on Youree this morning.
It was as high as $4.05 there that I saw about a month ago.
Posted on 4/7/22 at 8:41 pm to Penrod
quote:
The US could pivot on a dime and produce far more oil than we can refine and use.
Then instead of using up our strategic reserve, why aren’t we doing it?
I swear, you consistently have some of the worst takes on every board you frequent.
Posted on 4/7/22 at 8:43 pm to Roberteaux
quote:
How much have they lowered?? I haven’t filled up in almost 2 weeks and I’m too mortified to look at the prices as I drive past a station, so I honestly don’t know…
It's been around $3.90-something here in BR.
There are a couple of problems...
1. We will be switching over to summer blends soon and they are more expensive to make (as much as .15 extra per gallon).
2. We will be getting into the peak driving season (Spring/Summer) within the next month or two.
Right now Biden is releasing ~1M barrels per day for the next ~180 days. The higher demand and higher prices for summer driving are going to push gasoline back to where it was pre-Reserve, probably higher. With his dumb arse he'll probably push to increase the amount taken from the reserve.
The problem there is that's a finite amount, it will need to be replenished eventually and he has no plans to actually fix the issue. This whole event is an attempt to just "wait out" the price increase and hope the market rebalances before he has to drain the reserve completely.
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